TEHRAN, Aug. 20 (Shana) – A senior Iranian oil official expressed optimism that Irans crude oil export to Russia will begin by late September or late October 2017.

Amir Hossein Zamaninia, deputy petroleum minister in international affairs and trading, told Khabar Radio that Tehran and Moscow will conclude a crude oil sales contract to Russia within the next 2 or 3 months.

He said Iran will receive its oil cash from Russia in euros, adding 50% of the amount will be paid in cash and the rest will be used to finance import of goods from Russia to Iran.

The official described the deal as a "very important contract," adding the agreement has the potential to enhance Iran-Russia ties in all sectors.